- Estia Health has received a non-binding A$775.1 million ($517.8 million) buyout offer from Bain Capital. These are the details.
Australia-based Estia Health has received a non-binding A$775.1 million ($517.8 million) buyout offer from Bain Capital. The proposal was in the form of a A$3.00 cash-per-share offer. This was over a 28% premium to Estia’s stock price as of the last close.
Estia Health’s board is deciding whether the indicative proposal is in the best interests of its shareholders. Following the bid, the shares of the company jumped by over 21% – to A$2.84. The last time the stock price hit that amount was in November 2019.
Last month, Estia reported a net loss from ordinary activities after tax attributable for the 6 months ended December 31 of A$25.3 million against a net loss of A$8.1 million a year prior.
